4 Bed Terraced House, Refurb/BRRR, Middlesbrough, TS1 3EB, £120,000

1 Myrtle Street, Middlesbrough, TS1 3EB - 5 views - 3 months ago

Refurb/BRRR
ROI: 4%
86 m²
+8 photos

ValuationOvervalued

Sold Prices£60K - £194K
Sold Prices/m²£612/m² - £1.7K/m²

 

 

Square Metres

86 m²
Price/m²£1.4K/m²

Value Estimate

£102,000

 

 

End Value (After Refurb)

£100,000

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£30,000

Stamp Duty & Legal Fees

£4,800

Refurb Costs

£33,935

Bridging Loan Interest

£3,150

Total Cash In

£73,635

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£100,000

Mortgage (After Refinance)

£75,000

Mortgage LTV

75%

Cash Left In

£73,635

Equity

£25,000

Rent Range

£282 - £2,000

Rent Estimate

£745

Running Costs/mo

£482

Cashflow/mo

£264

Cashflow/yr

£3,162

ROI

4%

Gross Yield

7%

Local Sold Prices

25 sold prices from £60K to £194K, average is £122K. £612/m² to £1.7K/m², average is £1.2K/m².

PriceDateDistanceAddressBeds 
£88K09/230 mi17, Myrtle Street, Middlesbrough TS1 3EB4
£120K02/210.09 mi222, Borough Road, Middlesbrough TS1 2EQ4
£120K03/230.16 mi172, Marton Road, Middlesbrough TS1 2ED4
£140K06/210.27 mi31, Croydon Road, Middlesbrough TS1 3HQ4
£140K06/210.27 mi31, Croydon Road, Middlesbrough TS1 3HQ4
£185K06/230.3 mi91a, Borough Road, Middlesbrough TS1 3AA4
£110K03/210.31 mi41, Lothian Road, Middlesbrough TS4 2HS4
£164K11/200.44 mi5, Ceremony Wynd, Middlesbrough TS4 2WG4
£115K04/210.52 mi10, Saltwater Court, Middlesbrough TS4 2AQ4
£165K10/220.55 mi15, Roseberry Road, Middlesbrough TS4 2LH4
£110K05/230.56 mi75, Westbourne Grove, North Ormesby, Middlesbrough TS3 6EE4
£66.5K02/210.72 mi18, Oxford Street, Middlesbrough TS1 4NN4
£85K01/230.74 mi33, Kensington Road, Middlesbrough TS5 6AJ4
£119K01/210.74 mi75, Kensington Road, Middlesbrough TS5 6AJ4
£60K06/210.8 mi89, Kings Road, North Ormesby, Middlesbrough TS3 6EY4
£72K02/230.82 mi97, Kings Road, North Ormesby, Middlesbrough TS3 6EY4
£75K02/230.83 mi81, Costa Street, Middlesbrough TS1 4PJ4
£194K10/230.83 mi41, The Ridings, Middlesbrough TS4 2WA4
£122K08/210.84 mi7, Canterbury Grove, Middlesbrough TS5 6NS4
£145K11/210.84 mi25, Canterbury Grove, Middlesbrough TS5 6NS4
£155K04/210.94 mi28, Raines Court, Middlesbrough TS4 2AL4
£167K01/210.95 mi111, Raines Court, Middlesbrough TS4 2AN4
£180K06/210.96 mi16, Maddren Way, Middlesbrough TS5 5BB4
£170K05/240.96 mi2, Maddren Way, Middlesbrough TS5 5BB4
£160K07/210.96 mi15, Maddren Way, Middlesbrough TS5 5BB4

Local Rents

50 rents from £282/mo to £2K/mo, average is £700/mo.

RentDateDistanceAddressBeds 
£41210/240.04 miTeak Street, Middlesbrough3
£47710/240.04 miPalm Street, Middlesbrough3
£52010/240.08 miSouthfield Road, Middlesbrough, TS16
£1,69010/240.08 miMaple Street, Middlesbrough4
£1,10004/250.1 mi-4
£2,00003/250.1 mi-4
£95010/240.11 miLaurel Street, Middlesbrough, TS14
£70004/250.11 mi-3
£40010/240.11 miSouthfield Road, Middlesbrough, North Yorkshire, TS18
£1,30012/240.11 mi-4
£1,20001/250.11 mi-4
£1,15003/250.12 mi-4
£65003/250.12 mi-3
£95003/250.12 mi-3
£95003/250.12 mi-3
£70004/250.12 mi-3
£52010/240.13 miEgerton Street, Middlesbrough3
£52010/240.13 miEgerton Street, Middlesbrough3
£54210/240.14 miJedburgh Street, Middlesbrough, TS15
£1,65010/240.16 mi-3
£1,00010/240.16 mi-3
£90002/250.16 mi-3
£43310/240.16 miElder Court, Middlesbrough, North Yorkshire, TS14
£1,20010/240.18 miBorough Road, Middlesbrough, TS1 2ES4
£75010/240.18 miBorough Road, Middlesbrough, TS1 2ES4
£42912/240.2 mi-5
£1,95010/240.2 mi-4
£1,70012/240.2 mi-4
£1,60004/250.21 mi-4
£76010/240.21 miUpton Street, Middlesbrough, TS13
£60010/240.21 mi-3
£41510/240.21 miWoodlands Road, Middlesbrough, North Yorkshire, TS112
£60011/240.22 mi-3
£52010/240.25 miEgerton Street, Middlesborough, TS13
£39010/240.25 miApsley Street, Middlesbrough3
£70003/250.26 mi-3
£70004/250.26 mi-3
£41210/240.26 miFalmouth Street, Middlesborough, TS13
£39010/240.26 miAubrey Street, Middlesbrough3
£43310/240.26 miFalmouth Street, Middlesborough, TS13
£55011/240.26 mi-8
£43310/240.29 miWoodlands Road, Middlesbrough, North Yorkshire, TS15
£1,87610/240.29 miWoodlands Road, Middlesbrough, North Yorkshire, TS15
£43310/240.29 miWoodlands Road, Middlesbrough, North Yorkshire, TS15
£1,87610/240.29 miWoodlands Road, Middlesbrough, North Yorkshire, TS15
£43310/240.29 miWoodlands Road, Middlesbrough, North Yorkshire, TS15
£28210/240.29 miActon Street, Middlesbrough4
£95012/240.32 mi-3
£1,25001/250.32 mi-5
£49810/240.33 miWellesley Road, Middlesbrough, North Yorkshire, TS45

Local Area Statistics

Population in TS1

16,984

Population in Middlesbrough

189,245

Town centre distance

2.05 miles away

Nearest school

0.20 miles away

Nearest train station

0.57 miles away

 

 

Rental demand

Tenant's market

Rental growth (12m)

+8%

Sales demand

Seller's market

Capital growth (5yrs)

+32%

Property History

Listed for £120,000

January 11, 2025

Floor Plans

Description

  • Wonderful Student Location +
  • Central Middlesbrough Location +
  • Teesside University On Your Doorstep +
  • Yields Above 10% +
  • Lovingly Cared For Throughout The Years +
  • Signs of Modernisation Throughout +
  • Excellent Access Links via A19 & A66 Motorways +
  • On Street Parking AVailable +
  • Loft Bedroom with Velux Window +
  • Parks & Schools Nearby +

What we have today is a lovingly cared for and deceptively spacious end terrace situated right in the heart of Middlesbrough.
Investors are going to love this place, a stones throw away from the bustling Teesside University the property promises exceptional yields and high Tenant demand.
Without further ado let me talk you through everything this place has to offer;
_INTERNALS;
_
**Ground Floor
** You enter the property into a spacious Entrance Hallway with grey LVT flooring, traditional radiator and access into the Living Room and staircase to first floor.
On your immediate left you have the first of the four Bedrooms. Presented with bay window to the front allowing endless natural light to flow through. The room is decorated with neutral presentation and contains traditional radiator, internet connection point and space for a double bed.
Moving through the ground floor you come to a spacious private Lounge area. Benefitting from recent modernisation and presented with grey LVT flooring, traditional radiator and Kitchen access.
Into the Kitchen and Dining area. The Kitchen contains a range of white wall and floor mounted satin grey base units with complimenting laminate worktops. Also present here is space to house electric oven and with stainless steel overhead hob with extractor fan, stainless steel mixer tap and drainer and plumbing for washing machine/dishwasher. Also benefitting from uPVC double glazed window with rear outlook and serviced gas combination boiler.
To the rear you have a small lobby area with access to an adjoining w/c with freestanding sink unit. The Master Bathroom is also present here. Suite includes large walk in shower cubicle, w/c and freestanding sink unit. The room here has been styled to high specification with large porcelain wall and floor tiles, uPVC clad ceiling and with uPVC double glazed window to the side with rear Courtyard access.
**First Floor
** Heading upstairs you come to a communal Landing area with the second Double Bedroom to your left. Recently decorated with neutral appearance the room comes with traditional radiator, large uPVC double glazed window and endless storage space.
Opposite sits the third Double Bedroom. Also neutrally presented with uPVC double glazed window and storage space.
**Second Floor
** Up an additional fixed staircase to the second floor you are greeted to a surprisingly spacious additional Bedroom. Fitted with traditional radiator and stylish Velux window overhead.
_PLEASE NOTE: GAS CENTRAL HEATING SYSTEM, uPVC DOUBLE GLAZED WINDOWS AND PLENTY OF ELECTRICAL POINTS ARE STAPLES AS YOU MOVE THROUGHOUT THIS PROPERTY.
_ _EXTERNALS;
_
This End Terrace property comes with a spacious courtyard to the rear aswell as secure alleyway to the side of the property for bin store. There is on street parking widely available to the front of the property.
**The Area;
** Middlesbrough is a North East town on the up, situated on the fringes of North Yorkshire with all its beautiful coastlines and countryside. With the area recently being granted Freeport status the area promises a lot of growth and potential in the coming years as evident with the evolution of Teesside Airport, Teesside Shopping Retail Park, Middlesbrough Football Club and the world-famous Teesside University. National and International students are choosing to study on Teesside given this reputation.
This particular property is situated close to a number of convenient access links such as the numerous bus stops dotted along Borough Road, Middlesbrough Train Station and A66 & A19 Motorways.
**So Who's it for I hear you ask?
** This is the dream opportunity for somebody looking to step onto the Investment ladder with yield potential up to 10% and situated in a prime Middlesbrough location you really can't afford to miss out on this place.
First time buyers and small families would also be attracted to the property with its spacious rooms, close proximity to all necessary amenities and some highly regarded education facilities on your doorstep.
EweMove Estate Agents Middlesbrough are a multi aware winning agency who offer flexible viewing appointments Including evening & weekends! You can call, text, WhatsApp message or email us to secure your booking, get in touch today.

Agent Details

EweMove, covering Middlesbrough & Redcar

01642 056254

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪